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Browse More Listings in Multifamily For Sale, New York, NY or New York

Multifamily Property For Sale

219-221 East 23rd Street

219-221 East 23rd Street, New York, NY 10010

Price:
$15,950,000
No. Units:
42
Building Size:
19,430 SF
Price/Unit:
$379,761.90
Property Type:
Multifamily
Property Sub-type:
Mid/High-Rise
Property Use Type:
Investment
Cap Rate:
6.55%
Gross Rent Multiplier:
12.09
Lot Size:
5,086 SF
Find Out More...

Last Verified 11/9/2009 Listing ID 16437570

Description

Marcus & Millichap is pleased to offer the following opportunity in New York, New York. The subject property is a six story, 42 unit building totaling 19,430 square feet, located on East 23rd Street, between 2nd and 3rd Avenues in Gramercy Park. The buildings sit on two separate but adjacent 50 foot x 99 foot lots ( block: 0904 lot: 12 & 13). 219 East 23rd Street is built 25 feet x 86 feet and 221 East 23rd Street is built 25 feet x 80 feet. They are located in the C2-8A zone.

The building contains four stores and 38 apartments with seven of those being duplex units. Within the building there are 23 one-bedrooms, 13 two-bedrooms and two three-bedroom units.

The building also features various upgrades, which include plumbing, electric, hallway, facade and entry doors. In addition the boiler was rebuilt in 2007. Other notable improvments include new windows, a roof deck, and brand wood floors throughout the majority of the units.

Gramercy

Financial Summary

Actual
Net Operating Income
$1,044,725

Map of 219-221 East 23rd Street, New York, NY 10010 (New York County)

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Presented by

Marcus & Millichap

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Contact Listing Broker

Barbara Kirnos (212) 430-5124

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Created 10/19/2009

Additional Information for 219 E 23rd Street, New York, NY 10010

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 3 Historic Listings
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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Multifamily Property For Sale -

219-221 East 23rd Street, New York, NY, 10010